NortonLifeLock Inc. (NLOK) Tops Q3 EPS by 17c, Revenues Beat; Offers Q4 EPS Gudiance Above Consensus, Q4 Revenue Views Below Ests.

NortonLifeLock Inc. (NASDAQ: NLOK) reported Q3 EPS of $0.25, $0.17 better than the analyst estimate of $0.08. Revenue for the quarter came in at $618 million versus the consensus estimate of $607.97 million.

Third Quarter Financial Highlights from Continuing Operations

• Revenue was $618 million, compared to $615 million a year ago
• GAAP diluted EPS was $0.55, compared to ($0.03) a year ago
• Non-GAAP diluted EPS was $0.25, compared to $0.16 a year ago
• Reported billings growth of 4% year-over-year

“We drove better-than-expected results in our first quarter as NortonLifeLock and delivered sequential customer growth for the first time in over two years,” said Vincent Pilette, NortonLifeLock’s CEO. “Our ambition is to protect everyone’s digital life in a hyper-connected world with constantly evolving cyber threats. With our Norton 360 membership plans, we offer trusted protection for consumers’ devices, identities, privacy, and homes. Now that we are emerging from the Enterprise sale and accelerating the transition to a pure-play leader in consumer Cyber Safety, we are excited about our future.”

GUIDANCE:

NortonLifeLock Inc. sees Q4 2020 EPS of $0.15-$0.20, versus the consensus of $0.06. NortonLifeLock Inc. sees Q4 2020 revenue of $595-605 million, versus the consensus of $608.73 million.

Fourth Quarter Fiscal Year 2020 Guidance

• Revenue in the range of $595 to $605 million, which excludes ID Analytics revenue
• Non-GAAP EPS in the range of $0.15 to $0.20

For earnings history and earnings-related data on NortonLifeLock Inc. (NLOK) click here.

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